THE NINTENDO NX is rumoured to include a new handheld device and a recent report appeared to confirm a separate device, however, it appears that may not be the case.

A Japanese financial report released today appeared to have revealed a new Nintendo handheld console in development, codenamed the MH.

The information was reportedly released in an investor note from Morgan Stanley that was sent to outlets in Japan.

However, since the news was first released, other analysts have been quick to point out some facts about the new information.

According to Dr. Serkan Toto, an analyst who has a good track-record of sourcing Nintendo announcements before their official release, the Morgan Stanley report is merely making a prediction.

“That Morgan Stanley Japan note on Nintendo does NOT mean a portable console or the name "MH" is confirmed. They are picturing a scenario,” Serkan explained on Twitter.

“Such "rich" forward-looking analysis and also the wording is standard in investor notes. I know because I read *tons* of them.

“I just received and read it. As I said, they were picturing a scenario. Financial institutions do this kind of future-oriented analysis all the time. The note is much longer than what was released online.

“The analyst clearly says they are just projecting. They use "MH" as a codename to make the report more readable. It's arbitrary.

“In the note, they compare future/theoretical sales of the "MH" with that of the 3DS, so I guess the short name makes sense.”

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A translation of the report reads: "The driving force up until now has been new business from "health services, theme parks and mobile games etc", but will switch over to the next generation game system (NX) and next-gen handheld game device (MH (temporary name))."

It has been a long-established rumour that the Nintendo NX will launch with a hybrid to allow gaming access on both a home console and handheld device.

The new device is set for release in March 2017, Nintendo look set skip E3 this year for their new console and will instead focus on the Legend of Zelda for Wii U and NX.